𝙷𝚘𝚠 𝚍𝚒𝚍 𝙸 𝚖𝚒𝚜𝚜 𝚝𝚑𝚒𝚜… 𝚜𝚊𝚢𝚕𝚘𝚛 𝚐𝚊𝚟𝚎 𝚞𝚜 𝚊 𝚑𝚒𝚗𝚝 𝚊𝚕𝚕 𝚝𝚑𝚎 𝚝𝚒𝚖𝚎 😂 Strategy’s listed preferred shares spell FCKD 🤷🏻‍♂️ Saylor’s playbook has long been leverage plus narrative. If that leverage implodes it will do more than break MSTR. It will trigger a liquidity spiral that cascades through exchanges and margin positions. In a contagion Bitcoin will be dragged down by forced selling and collapsed sentiment. I view worst case paths where BTC revisits levels near USD 1,000 if leverage unwinds violently. This is not an accusation. This is a risk framing. If you own Bitcoin exposure because of a story rather than risk managed balance sheets you are exposed. Saylor fckd all holders…(Dr. Julian Hosp)